Lansforsakringar Fonder hired Danske Capital to subadvise on its 2.8 billion Swedish kronor ($390 million) Europafond active European equity mutual fund, said Henrik Bak, Danske’s vice president and head of institutional business.
Danske will manage the entire mutual fund in a high-dividend European equity strategy, Mr. Bak said.
Danske replaces Goldman Sachs Asset Management, according to a Danske news release. Mr. Bak would not comment on why Goldman Sachs was terminated.
Eva Gottfridsdotter-Nilsson, managing director of Lansforsakringar Fonder, said in the news release: “In order for (Europafond) to differentiate itself from our recently opened Europaindexfond, it is important that it follows a more active investment strategy.”
Ms. Gottfridsdotter-Nilsson was unavailable for further comment.